Questions from Accounting for Government and Non-Profit

Q: Jefferson Animal Rescue is a private not-for-profit clinic

Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals, chiefly dogs and cats. At the end of 2016, the organization had the following account balance...

Q: The Association of Women in Government established an Educational Foundation to raise

The Association of Women in Government established an Educational Foundation to raise money to support scholarship and other education initiatives. The Educational Foundation is a private not-for-prof...

Q: As of January 1, 2017, the trial balance for Haven

As of January 1, 2017, the trial balance for Haven Hospital was as follows: During the fiscal year ended December 31, 2017, the following transactions occurred: 1. Patient service revenue amounted...

Q: Presented below are account balances for Monterey Hospital. In addition,

Presented below are account balances for Monterey Hospital. In addition, cash transactions for the year ended December 31, 2017, are summarized in the T-account. The hospital issued $600,000 of lo...

Q: a. Distinguish between (1) Exchange (2

a. Distinguish between (1) Exchange (2) Non exchange transactions. b. Identify and describe the four eligibility requirements for a government to recognize revenue in a non-exchange transaction. c...

Q: a. Outline revenue recognition criteria under modified accrual accounting. Include

a. Outline revenue recognition criteria under modified accrual accounting. Include specific requirements for property tax revenue. b. Outline expenditure recognition criteria under modified accrual a...

Q: Identify and briefly describe the three organizations that set standards for state

Identify and briefly describe the three organizations that set standards for state and local governments, the federal government, and nongovernmental not-for-profit organizations.

Q: Distinguish between the (1) GAAP basis and (

Distinguish between the (1) GAAP basis and (2) budgetary basis of reporting for the General Fund.

Q: The City of South Dundee budget for the fiscal year ended June

The City of South Dundee budget for the fiscal year ended June 30, 2017, included an appropriation for the police department in the amount of $8,700,000. During the month of July 2016, the following...

Q: Assume at the beginning of 2017 the Village of Ashlawn Street and

Assume at the beginning of 2017 the Village of Ashlawn Street and Highway Fund (a special revenue fund) has cash of $136,000 offset by assigned fund balance in the same amount. 1. During the year, t...